Stanley Department Stores reported net income of $881,000 for the year ended December 31, 2024. Additional Information: Common shares outstanding at January 1,2024 125,000 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $26.50 ) During the year, the market price of stanley's common stock averaged $31.80 per share. On August 30, Stanley sold 15, 000 common shares. Stanley's only debt consisted of $43,000 of 10 short-term bank notes. The company's income tax rate is 25%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024